Cobalt - Copperbelt Katanga Mining

Congo halts court case against China Moly’s Tenke mine

March 30, 2022March 30, 2022 admin

Congo’s state miner Gecamines has halted its court case against China Molybdenum, which last month was stripped of control of its giant copper and cobalt Tenke Fungurume mine in the country, as officials seeks a solution to a dispute between the companies. The Congolese government announced in August it had formed a commission to reassess the reserves and resources at the mine to “fairly lay claim to (its) rights”. Several Gecamines officials were appointed to the commission as the DRC claims it is owed billions of dollars. In February, a local court named… Read More Here

Cobalt Copper Gold Mining in DRC

Market: copper still up at USD 10,247 per tonne, cobalt down at USD 81,619 per tonne

March 30, 2022March 30, 2022 admin

The general trend in commodity prices on the international market is between rise and fall for the main mining export products of the Democratic Republic of Congo, informs the National Mercurial Commission of the Ministry of Foreign Trade. Copper remains up this week at 10,247 USD per tonne against 10,017 USD per tonne last week, a positive price difference of 229.7 USD. Zinc is also up this week at 3,902 USD per tonne against 3,833 USD per tonne last week, giving a positive price difference of 69.2 USD. The other… Read More Here

Cobalt Mining in DRC

World: in 2020, four mines located in the DRC produced nearly 41% of the world’s cobalt

March 30, 2022March 30, 2022 admin

Four mining companies based in the Democratic Republic of Congo produced nearly 41% of the cobalt stock produced worldwide, according to a report by the NGO Natural Resource Governance Institute (NRGI). These companies include Kamoto, Tenke Fungurume, Metalkol RTR and Etoile operating in a market that concerns relatively few countries and companies. According to this report, this concentration entails significant geopolitical and investment risks for the Governments of the countries consuming and producing cobalt, as well as for companies in the supply chain. To date, the cobalt market is dominated… Read More Here

Mining in DRC Cobalt

DRC: a third of the country’s mining product exports in 2019 consisted of cobalt

March 29, 2022March 29, 2022 admin

Increasingly sought after on the international market, cobalt is essential in the Democratic Republic of Congo as an essential element for financing the economic development of the country. According to a report published by the NGO Natural Resource Governance Institute (NRGI), the price increase meant that in 2019, in terms of value, a third of the exports of the Democratic Republic of Congo (DRC) consisted of cobalt. . To this end, the DRC government has declared cobalt to be a “strategic mineral substance” and has increased royalties on cobalt in… Read More Here

Battery Metals Cobalt

World: from zero in 2010 to 2.3 million electric vehicles in 2020, the EV market needs more cobalt

March 29, 2022March 29, 2022 admin

The increasingly desired energy transition is an opportunity for several countries that produce cobalt, which is becoming an essential material in the manufacture of electric vehicles. Manufacturers of electric vehicle (EV) batteries (a market that has grown from virtually nothing in 2010 to producing 2.3 millionvehicles in 2020, or 3.2% of the global vehicle market) need this metal . EV sales, and therefore cobalt demand, are likely to increase significantly in the international market. According to the relatively pessimistic forecast of Bloomberg New Energy Finance (BloombergNEF), by 2025, EVs will… Read More Here

Cobalt Mining in DRC

DRC: NGO NRGI invites the Government to observe good governance to take advantage of the Cobalt market

March 28, 2022March 28, 2022 admin

The NGO Natural Resource Governance Institute (NRGI) recommends to the Government of the Democratic Republic of Congo (DRC), to put in place a policy of good governance in the mining sector in order to allow the population to benefit from the repercussions of the Cobalt market. This non-governmental organization issued this opinion during a press briefing organized on Saturday March 26, 2022, in Kinshasa. For this NGO, the DRC is in a unique position, but limited in time: “cobalt, of which it has the largest deposits in the world, is… Read More Here

Copper Cobalt Mining in DRC

MMG commits to $600m DRC cobalt expansion

March 25, 2022March 25, 2022 admin1 Comment

Base metals miner MMG has approved a $500-million to $600-million expansion of its Kinsevere operation in the Democratic Republic of Congo (DRC), extending the mine life for at least another 13 years. The Kinsevere expansion project will bring yearly production of copper cathode up to 80 000 t and between 4 000 t and 6 000 6 of cobalt in cobalt hydroxide. Construction will start in 2022 with first cobalt production is expected in 2023. First copper cathode production from the sulphide orebody is expected in 2024 with the mine to continue production of copper cathode from the remaining oxide orebody… Read More Here

Cobalt Copper Diamond Mining in DRC Zinc

DRC: here are the production figures in the primary sector in 2020 (BCC report)

March 24, 2022March 24, 2022 admin

The Central Bank of Congo published its annual report for the 2020 financial year this week. This document presents the quintessence of the economic activity of the country and the financial and administrative situation of the Bank as a company. DESKECO relays here the production figures in the primary sector. Indeed, according to the data in this report, in 2020, economic activity in the primary sector grew by 7.1% against 1.7% in 2019. Its contribution to growth was 3.1 points coming from 0.8 points the previous year. This change is mainly due… Read More Here

Mining in DRC Cobalt

World: on the rise, Cobalt goes from 75,521.25 to 78,277.50 USD on the international market this week

March 17, 2022March 17, 2022 admin

The prices of the main mining products exported from the Democratic Republic of Congo (DRC) are showing an upward trend on the international market for the week from March 14 to 19, 2022. According to projections by experts from the National Commission for Mercurial Prices, a service attached to the Ministry of Foreign Trade, the tonne of Cobalt should register an increase of around 2,756.25 USD during the period under analysis. The ton of Cobalt is expected to fall from 75,521.25 USD last week to 78,277.50 USD per ton this… Read More Here

Mining in DRC Cobalt Copper

The need for a fair resolution to the conflict between the shareholders of Tenke Fungurume (Cobalt litigation)

March 17, 2022March 20, 2022 admin

Resources Matters advocates for a fair and transparent outcome to the conflict that has pitted Congo against one of its largest investors, China Molybdenum, for more than six months, over financial compensation for Tenke Fungurume Mining’s copper-cobalt reserves. Earlier last week, a Congolese court appointed an interim administrator to lead Tenke Fungurume Mining (TFM) for the next six months, according to The New York Times and court documents seen by Resource Matters. TFM is one of the largest mining projects in the Democratic Republic of Congo and the world’s second largest producer… Read More Here